Bharti Airtel, Vi shares rise up to 2% after telcos add 26 lakh mobile subscribers in Aug. Which is Nomura’s top pick?
Bharti Airtel moved higher.
29 Sept 2026 · ET Stocks, Economic Times Markets
India added 55 lakh mobile subscribers in August, according to data from the Telecom Regulatory Authority of India. Reliance Jio continued to lead with 24 lakh new users, while Bharti Airtel gained 21 lakh and Vodafone Idea over 5 lakh. Jio holds a market share of 39.31%, followed by Airtel with 38.01%. The growth in urban subscriptions increased by 0.70% from July to August this year.
The analysis
Bharti Airtel reported movement of 2%, 0.70% and 39.31%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +1.2% on the day at ₹1,833.00, and has returned -4.3% over three months. It sits 15% below its 52-week high. The telecom & media sector has moved +9.5% over the same period, so Bharti Airtel is running 13.8 points behind its peers.
For Bharti Airtel, the question is how much of this is already reflected in the price and how much re-rates the telecom & media peer set alongside it.
Market context
- The company directly in focus is BHARTIARTL.
- Sector exposure: Telecom & Media, Oil & Energy.
In this story
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